GSPartners promoter arrested for fraud in South Africa
South African authorities have arrested GSPartners promoter Neil Leon De Waal.
De Waal was recruited into GSPartners by Brendon Earp-Jones, who in turn was recruited by Andrew Eaton.
Eaton was a top GSPartners promoter who worked directly under owner Josip Heit.
As per a cited court transfer document, De Waal was arrested on an arrest warrant issued by the Benoni Magistrates Court or around May 28th, 2024.
South African authorities have filed a criminal case against De Waal alleging one count of fraud.
De Waal’s arrest warrant was issued on December 15th, 2023, following an application filed on December 13th, 2023.
De Waal’s arrest warrant alleges he committed a single alleged act of fraud on May 30th, 2023.
On May 25th, 2023, De Waal attended a GSPartners promotional event in Dubai.
De Waal returned to South Africa after the event. On May 29th, 2023, De Waal confirmed he attended a local GSPartners promotional event in Cape Town.
Following De Waal’s arrest, a bail hearing was heard on May 31st.
South African authorities opposed De Waal’s bail, on the premise he
is a flight risk, a suspect in another fraud case [and] likely to commit further schedule 1 offenses.
The hearing was continued to June 3rd. I don’t have a confirmation filing but a source informs me De Waal was released on bail for R15,000 (~$790 USD).
The specifics of De Waal’s criminal case are unclear. Ditto details of the second case he is a suspect in.
Also unclear is the scope of the criminal case, and whether additional arrest warrants have been issued and/or arrests made.
At the time of De Waal’s arrest, his GSPartners upline Brendon Earp-Jones has scrubbed his social media profiles:
Earp-Jones’ upline, top GSPartners promoter Andrew Eaton, has also gone underground.
GSPartners was an MLM cryptocurrency Ponzi scheme run by Josip Heit out of Dubai.
Following an avalanche of regulatory fraud warnings from fourteen US states, six Canadian provinces and South Africa’s FSCA, GSPartners collapsed in December 2023.
Multiple failed GSPartners reboots ensued, the latest of which is Auratus.
In April 2024 Andrew Eaton falsely claimed US regulators were on the verge of settling fraud charges with GSPartners and Heit. The outcome of multiple US federal investigations into GSPartners remains pending.
Josip Heit remains in hiding in Dubai. It is unclear whether Brendon Earp-Jones and Andrew Eaton have fled South Africa.
Pending further updates we’ll keep you posted.
Update 7th June 2024 – A report from Netwerk24 has shed further light on De Waal’s arrest and GSPartners criminal case.
Many of us were stupid enough to invest in this company. We had not received any of our withdrawals in many months.
Requests for refunds don’t seem to get answered. I doubt any one of us will ever see a dime from this company.
I have to cash out my pension now to cover my losses. Thanks to Joseph Heit and his gang of thieves and liars.
I won’t be surprised if the top SA promotors pack up and join JH in the ponzi capital of the world.
There’s many South Africans running for cover right now, from Durbanville to Hout Bay, wishing they hadn’t posed in those awfully bling, gsp ponzi photos.
They are still telling scammed downline members that they will DEFINITELY be getting their ‘certificate investment returns’ in September.
What an awful crowd of ruthless people they are.
Only idiots would have paid $150 to attend their last, very obvious ponzi meeting at the CTICC in Cape Town last November.
Andrew Eaton needs to be next…
Hopefully this is just the tip of the iceberg.
Now that the pyramid has crumbled and there’s no more “investor” income. It will be interesting to see whether his babysitter, Brendon Earp-Jones, uses his trust fund money to pay for De Waal’s legal fees.
It will be equally as interesting to see if they have any money left after all the business class holidays to tropical destinations, fast cars, and blonde escorts.
Time will tell…
While I am pleased that the SA Authorities have arrested him, I am not confident that they will put him in prison. Up until now the SA Authorities have been all talk and no walk.
Their past track record is they fine them, give them a slap on the wrist as long as the perps promise to be good boys and girls and not do it again their case is closed.
All you have to do is look at the MTI case and see that the SA Authorities have done absolutely nothing. yet it is one of the biggest Ponzi schemes in SA history. All the perps are still walking around scot free.
The only actions taken against MTI has been the MTI Liquidators and the US Court.
I hope I am wrong, but I’ll believe it when I see it. And right now I am not seeing it happening.
Simple math. If you are a victim, go open a case and yours could be the next article on this site.
There is no victim of fraud when there is no complainant and hence there can be no prosecution.
I implore those reading this on the fence, don’t take some comment on a website as a means to sway you or what anyone from GSP says. Share your experience with a police officer, a lawyer, financial regulator or an accountant and ask them their professional opinion.